2007 Lukcy
 User
By that it is created: 156
Messages: 179

Message : 1
 

In Australia, is selling an owner-occupied house that was previously rented liable for CG Tax?
_____________
Tags: darwin australia,forum

neophyteblogger
 User
By that it is created: 171
Messages: 194

Message : 2
 

I will soon own a rental property in Western Australia, but I will probably also be occupying it at some point. I know rental property sales are liable for Capital Gains Tax and owner-occupied property sales aren't taxed in Australia. What are the tax rules for owner-occupied properties that were previously used by the owner as a rental property? How long do you have to live in the property for it to not be liable for CGT? I've searched on ato.gov.au, but couldn't find an answer there.
_____________
Tags: winter in australia,forum

tastanee
 User
By that it is created: 164
Messages: 187

Message : 3
 

I had the same question a couple of years ago and hidden in the Cap Gains Guide I eventually found the answer: you are only exempt from CGT for the proportion of the period of ownership in which the property was your principal place of residence.
_____________
Tags: australia today,forum

ratenon
 User
By that it is created: 181
Messages: 204

Message : 4
 

Hi
_____________
Tags: south australia,forum